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January 21, 2022

The BSE sensex closed the shop at 59,037DOWN by 427 points and the Nifty close the day at 17,617 byLoosing140 points.

On the Upside:-Bajaj Auto, Hindulvr, Maruti, Heromotoco
On the downside- Bajajfinsv, Techm, Shreecem, CoalIndia.

Tech View:- Morning Session, We have seen Market have started on Negative note due to weak global sentiments, Straight fourth day we have witnessed drop in the market.Today’s early session, The BSE Sensex was down 544 pointsat 58,919 and the NSE Nifty was 156 points lower at 17,600. Finally the BSE ended the session with 427-points cut at 59,037 level index had hit a low of 58,621 and the NSE, the Nifty50 gave up the 17,650-mark to end at 17,617, down 140 points.

Indian Vix:- India VIX, increase 6 per cent to end near 19-mark.

Sectoral, theNifty FMCG index ended in the green, up 0.36 per cent and the Nifty PSU Bank index, down 3 per cent. All other indices slipped between 0.5-2.4 per cent

Nifty have formed a strong Doji sortcandleon daily and weekly chart, Which clearly indicate market is in to confusion mode. The Nifty have shown recovery from 17400 level which means going forward 17400-17300 will be acting as a major support, Where; upper side 17700 – 17800 will be acting as a resistance level.

European & USA markets: @ IST 5:40 European markets were trading at Negativenote. Where the Germany’s DAX tradingNegativeby 1.99%, Other hand France’s CAC40 indexrunningNegativeby 1.75% where, England’s FTSE100 indexNegativeby 1.09%.
Where; wall street @ IST 05:40The DOW future contract tradingNegative41points, S&P 500 Future trading Negative15points, Where; Nasdaq100 futureNegative99points.

Global News Analysis:

CHINA- China will be able to achieve economic growth of around 5.5% in 2022, an adviser to the government’s cabinet said on Friday, making a rosier prediction than markets expect as recent data have pointed to slowing momentum
CHINA:-China will appropriately step up policy support for the economy as it faces new downward pressure, Premier Li Keqiang was quoted by state media as saying.
LONDON:-Oil prices fell on Friday, after rising to seven-year highs this week, after an unexpected rise in US CRUDE and fuel inventories and as investors took profits.
EUROPE:-Europe is moving fast to exit the emergency coronavirus measures that have disrupted all aspects of life for the past two years, a recognition that the measures have been largely futile against the omicron variant.